Sea Gate Brick Three-Family
For Sale
$1,500,000
4911 Surf Avenue, Brooklyn, NY 11224
Three-family home in private beachfront community with water views.
Property Size3,762 SF
Days on Market126
Property Features for 4911 Surf Avenue
General Information
Standard status
Active
Size
3,762 SF
Property subtype
Multi Family Home
Zoning
R3-1
Building Details
Building Size
3,762 SF
Year Built
1930
Stories
3
Listing Agency:
Exclusive Properties Realty In
Listed By:
Juda Niayzov
(718) 916-4618
Source:
Kirinny
Added: May 7
Changed: Sep 8
Last Checked: Sep 8 at 4:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exclusive Properties Realty In
Investment Insights
Based on property information with market context.
This solid-brick three-family residence is located on a quiet street in the private gated beachfront community of Sea Gate. The property features spacious layouts, outdoor space, and water and bridge views. It is suitable for both end users and investors. The home includes three apartments and additional finished living space in the basement with a private entrance. The third-floor unit has 3 bedrooms, 2 full baths, and a private balcony. The second-floor apartment mirrors this layout with 3 bedrooms, 2 baths, and a balcony. The first floor includes a 2-bedroom, 1-bath apartment with living and dining space. The finished basement offers bonus space with upgraded insulation, thermal windows, tiled floors, and a full bath, suitable for extended living, recreation, or storage. Additional features include hardwood floors, a sundeck, a maintained backyard, and maintained mechanicals, including the roof, boilers, and windows. The two front balconies offer views of the Verrazzano-Narrows Bridge and New York Harbor. Located in a waterfront community, this property offers privacy, security, and investment potential. The location is considered very walkable, bikeable and has excellent transit.
Key Highlights
- Located in the private, gated beachfront community of Sea Gate, offering privacy and security.
- Solid‑brick three‑family residence with three spacious apartments plus finished basement with private entrance.
- Breathtaking water and Verrazzano‑Narrows Bridge views from two front balconies.**
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$131,752
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.78%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,635,040
$2.6M
Cap Rate 7%
$1,882,171
$1.9M
Cap Rate 9%
$1,463,911
$1.5M
Market Conditions
NOI Build-Up for 3,762 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$191.9K $51.00/SF
− Vacancy
−$3.6K −$0.97/SF
EGI
$188.2K $50.03/SF
− OpEx
−$56.5K −$15.01/SF
NOI
$131.8K $35.02/SF
Area
Brooklyn, NY
Vacancy
1.90%
Lease Rate
$51.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,635,040
Cap Rate 7%
$1,882,171
Cap Rate 9%
$1,463,911
Alternative Uses
Best Use
Multifamily LT 5
$1.88M
$1.65M – $2.20M
NOI $131,752 @ 7.0% cap · market cap 8.78%
Second Best
Apartment 5plus
$1.64M
$1.44M – $1.91M
NOI $114,850 @ 7.0% cap · market cap 7.66%
Theoretical Best
Specialty Retail
$3.11M
$2.73M – $3.63M
NOI $218,046 @ 7.0% cap · market cap 14.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
365
Businesses Nearby
Explore this area
Business Placement
Demographics for 11224, NY
46,019
Population
21,354
Households
2.2
Avg Household Size
46
Median Age
33%
College-Educated
82%
High-School Grad
1.6 sq mi
ZIP Area
28,762
Density / Sq Mi
$41,449
Median Household Income
$41,233
Median Earnings
$905
Median Rent
$512,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three-family home in private beachfront community with water views.
Where is this triplex located?
The property is located at 4911 Surf Avenue Brooklyn, NY.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Located in the private, gated beachfront community of Sea Gate, offering privacy and security.; Solid‑brick three‑family residence with three spacious apartments plus finished basement with private entrance.; Breathtaking water and Verrazzano‑Narrows Bridge views from two front balconies.**
